Nikkei drops as investors cautiously await G20; cyclical stocks fall [Reuters]
TOKYO ELECTRON UNSP/ADR (TOELY)
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Source: Reuters
Nikkei drops as investors cautiously await G20; cyclical stocks fall - Reuters 2 Min Read * Nikkei heads for the first drop in 4 weeks * Defensive stocks buck weak market By Ayai Tomisawa TOKYO, June 28 (Reuters) - Japan’s Nikkei fell on Friday as investors turned cautious ahead of much awaited talks between U.S. and Chinese leaders at the G20 summit, with cyclical shares sliding on profit-taking before the weekend. The Nikkei share average dropped 0.5% to 21,222.44 points by midmorning, after rising 1.2% on Thursday on investor optimism that there will be progress in the U.S.-China trade dispute. U.S. President Donald Trump said on Wednesday a trade deal with Chinese President Xi Jinping was possible this weekend but he is prepared to impose U.S. tariffs on most remaining Chinese imports if the two countries don’t agree. Trump said on Friday he will discuss trade with Japanese Prime Minister Shinzo Abe at their talks on the sidelines of the G20) summit, as Washington pushes to cut it
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